WSJ: rapidly growing mismatch between the price of available housing inventory and demand

[Anonymous]

Barf. Is it really just about the house? I need more than just house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Same here. I loved my charming older home, until we had kids.
We are relocating to a less expensive city, and I want a new home. I want double sinks, walk in closets, laundry located off the master, open concept family/kitchen, a mudroom off an attached garage...
Sign me up.

Yup. Not huge, but not small, I love my 5BR 3.5BA home with a closet the size of a small bedroom with floor to cieling built ins.i too had a small shit shack and almost suffocated with baby #2 came along and couldn't move fast enough.

Just set up the deck and patio today and will enjoy my additional 1,000 sq feet of deck and patio.

I'm thinking of something like this.
Anyone care to guess what it's gonna cost to build? I'm wondering if I can do it under 400k....

https://www.architecturaldesigns.com/house-plans/4-bed-craftsman-beauty-with-exterior-options-500002vv

OMG, all those kits look exactly like what's being built in Bethesda and Arlington right now: craftsman on steroids.

Well that's all relative. On a 10,000 sq ft lot- sure, it looks huge. It will look very nice on 3-4 acres..

[Anonymous]

Anonymous wrote:Barf. Is it really just about the house? I need more than just house.

So do I. That's why I'm getting the F out of here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Same here. I loved my charming older home, until we had kids.
We are relocating to a less expensive city, and I want a new home. I want double sinks, walk in closets, laundry located off the master, open concept family/kitchen, a mudroom off an attached garage...
Sign me up.

Yup. Not huge, but not small, I love my 5BR 3.5BA home with a closet the size of a small bedroom with floor to cieling built ins.i too had a small shit shack and almost suffocated with baby #2 came along and couldn't move fast enough.

Just set up the deck and patio today and will enjoy my additional 1,000 sq feet of deck and patio.

I'm thinking of something like this.
Anyone care to guess what it's gonna cost to build? I'm wondering if I can do it under 400k....

https://www.architecturaldesigns.com/house-plans/4-bed-craftsman-beauty-with-exterior-options-500002vv

Under 400k in the DMV? Nope. Nope. Nope. My brothet is in construction and even the illegal day laborors are $18/hr.

You might be ablento get it under 400k if you do a modular home. Site work will cost you at least 100k, then you would want to find prefab thatbthey could plop doen for 300k or less.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Same here. I loved my charming older home, until we had kids.
We are relocating to a less expensive city, and I want a new home. I want double sinks, walk in closets, laundry located off the master, open concept family/kitchen, a mudroom off an attached garage...
Sign me up.

Yup. Not huge, but not small, I love my 5BR 3.5BA home with a closet the size of a small bedroom with floor to cieling built ins.i too had a small shit shack and almost suffocated with baby #2 came along and couldn't move fast enough.

Just set up the deck and patio today and will enjoy my additional 1,000 sq feet of deck and patio.

I'm thinking of something like this.
Anyone care to guess what it's gonna cost to build? I'm wondering if I can do it under 400k....

https://www.architecturaldesigns.com/house-plans/4-bed-craftsman-beauty-with-exterior-options-500002vv

OMG, all those kits look exactly like what's being built in Bethesda and Arlington right now: craftsman on steroids.

Well that's all relative. On a 10,000 sq ft lot- sure, it looks huge. It will look very nice on 3-4 acres..

That's a good starter home. Large lots are anti environmental

[Anonymous]

Anonymous wrote:That's a good starter home. Large lots are anti environmental

Large houses are anti-environmental. At least a large lot can act as a habitat to local wildlife: bees, butterflies, birds, etc.

[Anonymous]

You can certainly have a 2500 sq foot house close in north Arlington etc., you just need to pay $1.5-$2 million for it. If you want one for cheaper you can go oive in loudon. There is no shortage. The people who can afford to live close in also want to get a nice big house for their million+ dollars. House sizes are exactly where they should be. If you only earn 100-200k per year you don't qualify for a short commute and a nice house. Sorry.

[Anonymous]

Anonymous wrote:You can certainly have a 2500 sq foot house close in north Arlington etc., you just need to pay $1.5-$2 million for it. If you want one for cheaper you can go oive in loudon. There is no shortage. The people who can afford to live close in also want to get a nice big house for their million+ dollars. House sizes are exactly where they should be. If you only earn 100-200k per year you don't qualify for a short commute and a nice house. Sorry.

This is the unfortunate truth. I am always baffled by people who ask about a bubble. You see nice, close in homes going in days for over list price right? What do you think that's about? Strong demand.

[Anonymous]

Anonymous wrote:

Anonymous wrote:That's a good starter home. Large lots are anti environmental

Large houses are anti-environmental. At least a large lot can act as a habitat to local wildlife: bees, butterflies, birds, etc.

Nope, they are very energy efficient and have smaller carbon footprints. Look at Al gores house. Enjoy the shit shack

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Same here. I loved my charming older home, until we had kids.
We are relocating to a less expensive city, and I want a new home. I want double sinks, walk in closets, laundry located off the master, open concept family/kitchen, a mudroom off an attached garage...
Sign me up.

Yup. Not huge, but not small, I love my 5BR 3.5BA home with a closet the size of a small bedroom with floor to cieling built ins.i too had a small shit shack and almost suffocated with baby #2 came along and couldn't move fast enough.

Just set up the deck and patio today and will enjoy my additional 1,000 sq feet of deck and patio.

I'm thinking of something like this.
Anyone care to guess what it's gonna cost to build? I'm wondering if I can do it under 400k....

https://www.architecturaldesigns.com/house-plans/4-bed-craftsman-beauty-with-exterior-options-500002vv

Under 400k in the DMV? Nope. Nope. Nope. My brothet is in construction and even the illegal day laborors are $18/hr.

You might be ablento get it under 400k if you do a modular home. Site work will cost you at least 100k, then you would want to find prefab thatbthey could plop doen for 300k or less.

Not in the DMV. We are leaving the area. We're selling a shit shack for 800k and we'd like to not have a mortgage.

[Anonymous]

Anonymous wrote:You can certainly have a 2500 sq foot house close in north Arlington etc., you just need to pay $1.5-$2 million for it. If you want one for cheaper you can go oive in loudon. There is no shortage. The people who can afford to live close in also want to get a nice big house for their million+ dollars. House sizes are exactly where they should be. If you only earn 100-200k per year you don't qualify for a short commute and a nice house. Sorry.

+1. 20 percent of transactions in 2016 were all cash.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Same here. I loved my charming older home, until we had kids.
We are relocating to a less expensive city, and I want a new home. I want double sinks, walk in closets, laundry located off the master, open concept family/kitchen, a mudroom off an attached garage...
Sign me up.

Yup. Not huge, but not small, I love my 5BR 3.5BA home with a closet the size of a small bedroom with floor to cieling built ins.i too had a small shit shack and almost suffocated with baby #2 came along and couldn't move fast enough.

Just set up the deck and patio today and will enjoy my additional 1,000 sq feet of deck and patio.

I'm thinking of something like this.
Anyone care to guess what it's gonna cost to build? I'm wondering if I can do it under 400k....

https://www.architecturaldesigns.com/house-plans/4-bed-craftsman-beauty-with-exterior-options-500002vv

OMG, all those kits look exactly like what's being built in Bethesda and Arlington right now: craftsman on steroids.

Well that's all relative. On a 10,000 sq ft lot- sure, it looks huge. It will look very nice on 3-4 acres..

That's a good starter home. Large lots are anti environmental

That is still a large house. Once you add the basement, which is not shown on the plans, you are talking about 5,500-6,000 sq ft or so. That is about the same size as most of the new build craftsmen houses in this area. If you bought this in McLean as a new build it was cost you $1.5-$1.8 million (including lot, permits, teardown, and new house) or so depending on how much you could get the lot for.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Same here. I loved my charming older home, until we had kids.
We are relocating to a less expensive city, and I want a new home. I want double sinks, walk in closets, laundry located off the master, open concept family/kitchen, a mudroom off an attached garage...
Sign me up.

Yup. Not huge, but not small, I love my 5BR 3.5BA home with a closet the size of a small bedroom with floor to cieling built ins.i too had a small shit shack and almost suffocated with baby #2 came along and couldn't move fast enough.

Just set up the deck and patio today and will enjoy my additional 1,000 sq feet of deck and patio.

I'm thinking of something like this.
Anyone care to guess what it's gonna cost to build? I'm wondering if I can do it under 400k....

https://www.architecturaldesigns.com/house-plans/4-bed-craftsman-beauty-with-exterior-options-500002vv

OMG, all those kits look exactly like what's being built in Bethesda and Arlington right now: craftsman on steroids.

Well that's all relative. On a 10,000 sq ft lot- sure, it looks huge. It will look very nice on 3-4 acres..

That's a good starter home. Large lots are anti environmental

That is still a large house. Once you add the basement, which is not shown on the plans, you are talking about 5,500-6,000 sq ft or so. That is about the same size as most of the new build craftsmen houses in this area. If you bought this in McLean as a new build it was cost you $1.5-$1.8 million (including lot, permits, teardown, and new house) or so depending on how much you could get the lot for.

We are looking at a 2-3 acre lot for approx 100k

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can certainly have a 2500 sq foot house close in north Arlington etc., you just need to pay $1.5-$2 million for it. If you want one for cheaper you can go oive in loudon. There is no shortage. The people who can afford to live close in also want to get a nice big house for their million+ dollars. House sizes are exactly where they should be. If you only earn 100-200k per year you don't qualify for a short commute and a nice house. Sorry.

+1. 20 percent of transactions in 2016 were all cash.

73.4% of all quoted statistics are made up

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can certainly have a 2500 sq foot house close in north Arlington etc., you just need to pay $1.5-$2 million for it. If you want one for cheaper you can go oive in loudon. There is no shortage. The people who can afford to live close in also want to get a nice big house for their million+ dollars. House sizes are exactly where they should be. If you only earn 100-200k per year you don't qualify for a short commute and a nice house. Sorry.

+1. 20 percent of transactions in 2016 were all cash.

73.4% of all quoted statistics are made up

Haha truth. I agree [somewhat] that there's demand for the $1.5M+ and up homes in desirable close-in areas...but the $1-$1.2M new construction in one-off places (further out suburbs, otherwise un-redeveloped neighborhoods, etc.) is sitting. Too many giant spec houses on tiny lots, and the builders can't lower the sale price due to the aforementioned lot, site work, and permitting costs. In terms of a bubble happening again, I think the risk factor there is that a lot of people are in debt up to their eyeballs...we got pre-approved for up to a $1M house, which is absolutely INSANE on our HHI (a shade under $250K), even taking into account our frugal lifestyle and solid savings. I imagine many people in this area don't make the same pragmatic decisions that we do, though...so we'll see if the job market and local economy (which, like it or not, are both heavily fed-dependent) support their risk-taking.